TechFlow reports, Ripple CEO Brad Garlinghouse revealed at the Seoul Blockchain Week in South Korea that the company is preparing to launch RLUSD, a dollar-pegged stablecoin currently in "private closed testing phase," with an official release expected "within weeks, not months." Garlinghouse said that 18 months ago, following the USDC depegging incident, Ripple saw an opportunity to enter the stablecoin market.
Additionally, Garlinghouse expressed having "no interest" in conducting an IPO in the United States, primarily due to the SEC's "hostile stance" toward cryptocurrencies. He predicted that regardless of who wins the upcoming presidential election, the U.S. SEC will see new leadership, noting that current Chair Gary Gensler has lost bipartisan support.
Regarding the legal dispute with the SEC, Ripple was last month ordered to pay a $125 million fine—significantly less than the $2 billion sought by the SEC. Garlinghouse viewed this outcome as a victory for both the company and the industry. He also voiced regret over the SEC's recent enforcement action against NFT marketplace OpenSea, calling the agency's position that NFTs are securities incorrect.
Nonetheless, Garlinghouse remains optimistic about the development of cryptocurrency over the next five years, looking forward to clearer regulatory guidance from lawmakers rather than the SEC.
